• Strong cash position with cash balance of $17.6m
• Digital and spatial services now 20.4% of total revenue
• Secured forward workload of over $55m, with a healthy unsecured pipeline of $190m

Veris Ltd has reported its FY25 half-year results, highlighting key achievements and financial performance. The company's strategic acquisition of Spatial Vision has bolstered its digital solutions and advisory service offering, with the digital and spatial segment now contributing 20.4% of total revenue. Profitability has rebounded, with PBT of $1.0m, up 212% from the prior corresponding period, and PBT margin increasing to 2.1%, up 200% from the prior period. This margin expansion has been driven by a more selective approach to project and client selection, as well as an increasing proportion of revenue from higher-margin digital and spatial advisory projects. Veris has maintained a strong cash position, with the cash balance rising to $17.6m, and a secured forward workload of over $55m. The company also has a healthy, unsecured project pipeline with a weighted value in excess of $190m, providing confidence in its outlook. Veris continues to leverage its spatial and advisory capabilities to deliver high-margin services and multi-disciplinary projects, with growth also being driven by strategic acquisitions like Spatial Vision.

Veris has reported a secured forward workload of over $55m to be executed over the next 12 months, in addition to ongoing project variation and direct assignment works. The company also has a healthy, unsecured project pipeline with a weighted value in excess of $190m.

Veris is well-positioned for continued growth, with its strategic shift towards higher-margin, large and complex opportunities with key clients, as well as the integration of Spatial Vision's capabilities, which is expected to enhance the company's digital advisory and consulting services and solidify its position as a leader in spatial data and GIS services.